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GMP signals minor gains on the day of listing

Aditya Birla AMC’s IPO: The share allocation of Aditya Birla Sun Life (ABSL) IPO (Initial Public Offering) has been announced and both happy bidders and market observers are eagerly awaiting the listing date, which is expected to take place on October 1, 2021. Aditya Birla AMC shares are listed on both the NSE and BSE. Before the listing date of the ABSL share, however, the bidders also keep an eye on the gray market. Aditya Birla AMC shares are today at a premium of. available 27 on the gray market. According to market observers, such an Aditya Birla AMC IPO GMP reflects a slight increase in the stock market from the public issue.

Aditya Birla AMC IPO GMP

According to market observers, Aditya Birla is AMC IPO GMP today 27, that is 10 more than Friday’s GMP 17. Market observers added that the gray market premium for the IPO of Aditya Birla AMC has remained around after the announcement of the share allocation 15 to 35, which reflects that the gray market expects a small stock market profit from this public issue value 2,768.26 billion euros. You said the gray market price of Aditya Birla AMC IPO is leveling off around 15 to 35 is an indication that the gray market is expecting a single-digit profit from this IPO, which is a good sign for lucky bidders considering 100 OFS (Offer for Sale) of this IPO.

What this GMP means

Market observers added that GMP was nothing more than unofficial data regarding the expected market profit from the public offering. How Aditya Birla AMC IPO GMP is today 27 this means that the gray market has a premium profit of. expected 27 from this public edition. Means Aditya Birla expects AMC IPO listing at around 739 ( 712 + 27) – around 4 percent higher from the price range of 695 tons 712 per share.

However, market observers added that GMP should not be the criterion for determining the success or failure of a public offering. They advised bidders to take a look at the company’s finances.

Talking about what record speaks of Aditya Birla Sun Life AMC; Abhay Doshi, founder of UnlistedArena.com, said, “In the top band of 712, the issue looks in line with its publicly traded competitors. Based on the results of FY21, the issue requires a PE multiple of 39, which appears moderate and leaves a little leeway for short-term investors. The company’s long-term prospects tend to be formidable due to the massive under-penetration of the capital markets, but at the same time there are plenty of alternatives to play around the theme. “

Disclaimer: The views and recommendations made above are those of an individual analyst or brokerage firm and not of Mint.

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